Скачать или смотреть IGST Wrong Credit & Interest under Section 50(3) | CBIC Circular Explained | gstguy

One of the biggest fears for taxpayers: “If I wrongly avail IGST credit, do I need to pay interest under Section 50(3) of GST?”

👉 The answer is NO — if the wrongly availed ITC was never utilized.
📜 As per CBIC Circular No. 192/04/2023-GST, interest is payable only if your total ITC balance (IGST + CGST + SGST) falls below the wrongly availed amount, indicating actual utilization.

✅ Key takeaway: If your ITC balance never drops below, there’s no interest liability — just reversal of the credit.

⚠️ Disclaimer: This video is for educational purposes only. Please consult a qualified tax advisor for case-specific guidance.


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